Are Tax Increases Inevitable?

I hate to cite Andrew Sullivan three times in a single morning, but he leaves me no choice by posting things like this:

Andrew Sullivan - April 6th, 2005

BUSH'S TAX INCREASES: They're inevitable. This president, who knows how to duck personal responsibility, may not have to preside over them. But his successor will be forced to. The Medicare explosion and Social Security crunch mean something obvious to anyone with eyes to see

Why are they inevitable? Because of Social Security and Medicare. But everyone knew the Social Security crunch was coming long before Bush took office, and Bush's prescription drug benefit increase will probably end up looking like a drop in the bucket when all's said and done. His tax cuts have increased tax receipts, and the Democratic leadership blanches when he submits a budget with any significant cuts in it.

I don't see a way to pin this particular tail on this particular elephant.

ť April 7th, 2005

posted @ 11:08 AM in Economy

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